Penske Automotive Group, Inc. (NYSE:PAG) Shares Purchased by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. boosted its position in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 45,300.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 454 shares of the company’s stock after acquiring an additional 453 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Penske Automotive Group were worth $74,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Penske Automotive Group during the 2nd quarter worth about $1,516,000. Manning & Napier Advisors LLC acquired a new stake in Penske Automotive Group during the 2nd quarter worth about $3,742,000. Aristeia Capital L.L.C. acquired a new stake in Penske Automotive Group during the 2nd quarter worth about $626,000. Tidal Investments LLC acquired a new stake in Penske Automotive Group during the 1st quarter worth about $954,000. Finally, Millennium Management LLC lifted its position in Penske Automotive Group by 9.1% during the 2nd quarter. Millennium Management LLC now owns 126,278 shares of the company’s stock worth $18,818,000 after acquiring an additional 10,522 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

NYSE PAG opened at $166.78 on Thursday. The stock has a 50-day simple moving average of $157.83 and a two-hundred day simple moving average of $156.78. The firm has a market capitalization of $11.14 billion, a P/E ratio of 12.84 and a beta of 1.17. Penske Automotive Group, Inc. has a fifty-two week low of $142.32 and a fifty-two week high of $179.72. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.02). Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The business had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.67 billion. During the same quarter in the prior year, the firm earned $3.90 EPS. Penske Automotive Group’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts forecast that Penske Automotive Group, Inc. will post 13.5 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. Penske Automotive Group’s payout ratio is currently 36.48%.

Wall Street Analysts Forecast Growth

PAG has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 10th. Stephens started coverage on Penske Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price objective for the company. Finally, Morgan Stanley upgraded Penske Automotive Group from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $115.00 to $180.00 in a research note on Wednesday, September 25th.

Penske Automotive Group Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.